Posts tagged "Todos Santos Lifestyle"

Recently we updated our Wills in the United States and thought this would be a good time to share my thoughts and experiences and how our USA Wills affects our assets in Mexico. Although we have Wills that cover our assets in the United States, our Wills do not cover our Mexican assets, for a probate court in the United States does not have jurisdiction in Mexico, meaning that you would have to go through probate again but in Mexico and having a Mexican Will makes it less complicated.

Casa Bellaterra, Todos Santos

From what I understand, there are two ways to designate your Mexican assets to heirs:

1.- The first would be to form a bank trust. If you’re a foreigner and own property in Baja California Sur, most likely you already hold title in a bank trust known as a Fideicomiso, where the owners or “main beneficiaries” have the same rights as an owner would have and may designate substitute beneficiaries in case of demise. In our case, we have designated each other as mutual main beneficiaries 50/50 so when one passes, the other inherits the other’s 50%. When we are both deceased then our substitute beneficiary will move into number one position and inherit our estate. Keep in mind that this type of trust is only for Real Estate, if you have other assets, having a Mexican Will is recommendable.

I like to think of the Fideicomiso similar to a Living Trust in the United States, for it avoids probate and there are tax advantages. If you currently have a Fideicomiso, then most likely you have designated your substitute beneficiaries when you acquired the property. If you’re not sure, now would be a good time to review your current trust to see how it’s worded and verify your beneficiaries. What if you have changed your mind regarding substitute beneficiaries? Then you can file a declaration with a Mexican notary and notify the Trustee bank.

2.- The second way to designate your Mexican assets is with a Will or Testamento drafted and certified by a local notary public and registered at the public registry. In our case we have Mexican Wills that cover our personal belongings such as bank accounts, contents of house, vehicles, etc. and our Fidiecomiso covers real estate assets. I have seen cases where home owners updated the heirs in their Mexican Wills, but did not update their Fideicomiso. As far as the Trustee bank is concerned, the Fideicomiso supersedes the Will, even if you’re married. Therefore, it’s important when you update your Mexican Will that you also update your Fideicomiso so both documents correspond.

Once the main beneficiaries are deceased, the substitute beneficiary presents original death certificates, the Trustee bank will initiate the process of issuing beneficial rights to heirs, and like a Living Trust in the United States, the Trust avoids probate. Now, keep in mind this information is not a substitute for legal advice. If you have questions regarding your Fideicomiso and how it’s structured, a good place to start is with your Coldwell Banker Riveras real estate advisor as he/she will be able to review your Fideicomiso and refer you to a Mexican Notary, or attorney, who specializes in estate planning.

You have just moved to Baja California Sur and have either bought a home or are going to build it. It’s time to relax and enjoy the fruits of your labor… but before you get too comfy, I suggest you organize your documents, important dates and have all your ducks in a row. As a foreigner living in Mexico (and loving it, by the way!), here are my personal comments on how you can make the best of your personal errands while enjoying the good life!

Dates to Remember.
• La Paz Municipality residents. In October pay your property taxes for next year and receive the 30% discount offered.
• Los Cabos Municipality residents. A 20% discount applies if you pay your property taxes at the beginning of the year, in January.
• Mark your calendar to pay your annual fideicomiso fees. Ask your Coldwell Banker Riveras sales agent if you don’t know it. He/she will also advise you on how and where to make it.
• Know when your water, electric and phone bills are due. Often times you may not receive your bill and the next thing you know your electricity was shut off Friday evening and you have to wait until Monday to rectify the situation.
• Insurance Policy premiums due annual or semi-annually. I’m referring to auto and hazard insurance. A trusted insurance broker is my choice to go, they can always advise you on which is the best policy for your needs and let you know when your fees are due.

Banking.
• I suggest opening a Mexican Pesos account & USD checking account with your local bank, it will be easier to make local payments.
• With a local Peso account, it will be much easier to set up auto-payments for services such as electric and telephone, internet, etc.
• Be sure to name all parties on the account with equal access and authority
• Be sure to state names of beneficiaries in the event of death
• Keep your checkbook and debit cards in safe and secure place in your home.

Files to Maintain: Electronic and hard copies.
• Copies of your fideicomiso – all pages
• Copies of annual fideicomiso payments. Often times the bank has no recollection of what was paid.
• Copies of your passports, driver licenses, marriage certificate
• Copies of all credit cards and numbers to call in the event of lost or stolen cards
• All banking information – account numbers – wiring information – 24-hour customer service numbers in the event of lost or stolen ATM card
• Copies of all insurance policies.
• Copies of will & testaments and family trusts
• Photo copies of valuables such as: jewelry, art, cars, atv’s, computers and phones
• Make sure all these are within a safe place at your home.

Utilities.
• When setting up your new water/electric accounts be sure that your property tax identification number is listed on your bill. This will identify your home to the service.

It might sound like a lot, but many of these things can be done in a matter of days or by your property manager, assuring you confidence and tranquility. Now that you have accomplished all this it is time to relax and enjoy the good life that many seek… and just a few find.

We all can agree that Dan Binetti is passionate about what he does, which translates into giving his best performance and attention for the best results possible. Be it on the water fishing a red snapper, or touring a property getting the best deal for both buyer and seller, Dan is committed to do an exceptional job. Would you like to get to know him more? Keep on reading, you are in for a pleasant surprise.

Where are you from? Born and raised in Palisades Park New Jersey (Northern New Jersey). Graduated High School, Joined the Army and lived 2 years in Germany. Returned to New Jersey for another 6-5 years, moved to Memphis Tenn for 6 years, then moved to Tampa Florida for 2.5 years and then to St. Louis Missouri for 7 years… so you can say that I’ve been around for a while.

How long has it been since you are living in Mexico? Why did you move? 11 years now. Back then I was running large manufacturing facilities and working very long hours, for over 20 years. I wanted a change more than anything.

Do you miss the big city? No way Jose!

What made you go into Real Estate? An opportunity to change work fields and lifestyles, help others realize their dreams and to see the sun rise and set in a place that it was FAR from being a factory.

In your opinion, how do you see the Todos Santos lifestyle and real estate? I believe the Todos Santos Market is showing nice signs of steadiness but not hectic growth that the town cannot support. We can still be considered a Pueblo Magico for the enjoyment of locals who want their traditions to prevail, which makes it even more appealing for us the foreigners. We have it all without the craziness of the big cities.

As a foreigner, how do you feel living on a small Mexican community? Why do you think many Canadian and Americans are choosing Todos Santos to retire or as a second home option? I love living in a small pueblo in Mexico, one of the reasons being that I know most of the people here in town, a town I now call my home. I think Todos Santos offers a climate and lifestyle that promotes relaxation, safety and a way of life for all to fall in love with. For the ones missing the big city or wanting an opportunity to escape once in a while, we are close enough to both Los Cabos and La Paz, which gives us all the variety and amenities that we will ever need.

What advice would you give anyone looking into buying in Baja California Sur? The area offers many different climates and lifestyles, dramatically different from one another, you gotta first figure it out. Be honest with your agent when you plan to spend time here and imagine what you will be doing, it will give you a clearer idea.

We know you like fishing. Name your top three locations to go fishing in the area! Sorry can´t give away my top choices and I actually call it catching, not fishing. In 11 years I have not been “skunked” once, so any place in the area is unique and interesting, even off-shore can surprise you! I can only say this “Any location and day on the water catching, is better than a day of work”… wouldn’t you agree?

Stuffed Red Snapper, one of Dan’s specialties!

There you have it. These days Dan can be found either touring a client or simply enjoying the best of the area. If you would like to get in touch with him regarding the Todos Santos Real Estate market or lifestyle, send him an email to dbinetti@cbriveras.com or call the Coldwell Banker Riveras office in Todos Santos (612) 145.0118

When I first met him I thought: what a gentleman he is! Over the past year Alvaro Colindres has proven to be more than just that, but a true real estate professional. His outstanding performance and service have granted him to be one of Coldwell Banker Riveras’ Top Producers.

Living in Todos Santos for over a decade, Alvaro shares how exciting and rewarding it is to live in a small community on the Pacific side.

Where are you from?
I grew up in Daly City, CA a suburb of San Francisco.

Were you involved in Real Estate back in the US? Why did you go to this line of work?
I enjoyed a rewarding profession in the hospitality industry and served at some of SF’s finest restaurants. Real estate was not something I’d considered before moving to Todos Santos, but when I had the opportunity to learn from a license realtor– the way real estate transactions are handled in the states, I jumped at the opportunity. Also, at the time, many Todos Santos real estate offices were organizing and forming a MLS and thought it would be good time to enter the profession.

When did you discover Todos Santos? How long have you lived in this Pueblo Magico?
We first discovered Todos Santos in 2000 and have lived here full time since 2001. We moved into our home summer of 2002.

Everybody says Todos Santos is a great place for people to retire, as a fulltime foreign resident, is that true? What are the advantages of living in here?
Well, it’s a good place to retire, but don’t plan on letting dust settle on your shoes! Retirees soon find themselves busy with an active social life, exploring creative outlets, and learning Spanish! I’m also seeing younger couples with children moving to Todos Santos and starting businesses and there are more full time residents living year round. Summer is my favorite time of year time when the town slows down and gets very quiet. Summers are also a time when many full timers like to visit their family or explore other parts of Mexico. I enjoy the small town feel of Todos Santos, the restaurant scene, the serenity of the Palm Oasis, living on the Pacific and wide open desert landscapes, yet most conveniences are available in town or less than an hour’s drive on the new four lane highway to La Paz or Cabo San Lucas.

And the obligated question, how do you see the Todos Santos / Pacific Real Estate Market?
Todos Santos real estate market, I like to say is “slow, but steady.” In my opinion, the Pacific corridor between CSL, Pescadero, Todos Santos and Las Playitas in general are the next areas to watch for development. Also Todos Santos’ designation as a Pueblo Magico have federal funding earmarked for municipal improvements, just look our newly paved streets and sidewalks.

Lastly, what would you recommend for someone looking to invest in the area?
Now is a good time to buy. There’s new inventory coming on the market and properties that have been listed for a while are adjusting to market demands. We are moving through much of the inventory for homes in the $250 to $300K range and showing more homes in the $350 to $600K range. We also have gorgeous lots and development properties that would make good investment opportunities. And if you’re looking to start your own B&B, we have several properties that would have right mix of ambiance and location. Come and settle in for a while, as long as you can, and let the layers of a busy lifestyle melt away. Meet people and network. Enjoy the outdoors, walk, hike, surf, meditate, explore the various neighborhoods and dine at the various restaurants. Enjoy the town and work with a real estate professional to help you find your place under the Baja sun.

If you would like to talk to Alvaro about the different opportunities of how you too can enjoy Todos Santos Pueblo Magico, send him an email to acolindres@cbriveras.com or call him to the Coldwell Banker Riveras office at (612) 145.0118. From US / CA (858) 964 3712

Well it has been a while since my last blog, and a lot has been going on. Following Hurricane Odile it seems we have been going full speed to this point and with the market showing distinct signs of growth, the real action is only beginning.

Downtowns streets are undergoing serious change as part of Pueblo Magico upgrades. You can expect new paving and sidewalks with new underground electric, sewer lines and water lines. Sidewalks and trees with planters are also being refurbished. This has cause stress on the local businesses, but we can also see brighter future than ever.

Just around the corner to our Coldwell Banker Riveras officethere is a new business called “El Papayon” that seems to be a hot spot. A great juice bar with all the local fruits and veggies along with service and a smile. I find it the place that I gravitate to following my morning workout every other day. A favorite of mine is “La Bamba” a mix of granola, coco, bran, banana, oatmeal and yogurt, and I add my iced coffee to it and gives me all the energy I need following my workout.

Gotta try their smoothies!

Making Mexican friends is something that I continue to enjoy doing. Some parts of the culture will always make me scratch my head but eating delicious regional food and enjoying others company is not one of them. This past Semana Santa (Easter Week) I was able to sneak onto the water for a few hours of great bottom fishing. Take a look at the size of these two Red Snappers that I stuffed with mixed veggies, shrimp, scallops and my own secret specialty “pesto into the meat”. About 45 min per side onto some hot coals at the beach and the tacos were the hit of the party.

Needless to say, it was delicious.

I have not been fishing enough lately, but I can assure you that if you visit us and need a quality guide to put you on the action I am the man for you, who knows? Maybe you like it so much that you find for your dream home and become an expert on the area as well!

Lastly, I cannot leave before sharing with you that with our continuous market growth, there are fewer and fewer great deals left. Here are a few of my favorites:

Beachfront Estate in Elias Calles. This is a spacious home with cantera columns and arched entryways that open to the veranda for indoor-outdoor living. Fabulous for entertaining within THE area that is about to take off!

Beachfront Estate Elias Calles

2nd Tier Lots in Las Tunas. Now the lowest Priced Lots in the Area! Ocean and mountain views including views of La Pastora Surf Break. Only steps away from the beach, with both water and electric services on the street.

I almost forgot! Have you check out our new Coldwell Banker office in Los Cerittos? Our experienced surfer and local advocate Mark Sherman is knowledgeable on the area and we are proud to have him on board. Ours is the only real estate office on Los Cerritos to fulfill your buying/selling property needs.

Coldwell Banker Riveras Office in Cerritos

Todos Santos is a great place to be. There is never, ever a dull moment in here.

Until next time!

For more information about Todos Santos Lifestyle, Real Estate & news, send Dan an email to dbinetti@cbrvieras.com visit www.cbriveras.com or give him a call to our Todos Santos Office 52.612.145.0118.

Boy do I love to go fishing! Being on the water with friends or family, having fun and catching dinner is a combination hard to surpass. I can remember growing up as a kid fishing off the beach with my dad, or going blue-claw-crabbing off the bulkheads, or under the bridge peers scooping for soft shells, clamming in the shallows barefoot. Even once clamming in deep water in Barnegat Bay during high tide with my father and his friend Pete, they could barely touch the bottom. Each time they would locate a clam they told me and I’d swim down and plucked them from the sand under the weeds and grass.

As I got older I bought my first boat, a 10ft wooden rowboat with a 3 horse sears engine (I was 15) and off I went with my friends. Let me tell you, we had some fun and dangerous times in the Hudson River and even taking off from Seaside Heights and through the channels out onto the Atlantic for bluefish, stripers and flounders and then diving the jetty’s and pier pilings for bunches of muscles! Unfortunately, I ended up sinking that boat.

I started visiting and fishing in Cabo well over 20 years ago, so when Cristina (our marketing coordinator) informed me that Coldwell Banker Riveras would like me to write an article for the upcoming issue of our corporate magazine Escapes, I was very excited. This is a magazine with 10,000 copies printed 3-times per year and distributed all throughout Baja California Sur, so dedicating the space to me is not small potatoes. I have been working hard with the team we have at CBR and the rewards have paid off “Thanks CBR”.

I tried to keep the article general to the best times to fish and what type of fish you might expect to catch, rather than the actual reefs or ledges under the water. Leave that up to your guide or captain. Cristina helped (as she does with my blogs) with the editing and I think we were pleased with the outcome. You can read it here and please, let me know what you think!

Enough fishing, let’s talk about lifestyle and Real Estate in Baja California Sur. Aeromexico, one of the leading Mexican airlines, has added a non-stop flight from Los Angeles to the beautiful city of La Paz with other additional flights at great fares for the winter season. This represent a GREAT opportunity for everyone to visit us and enjoy the climate, the festivities and yes, the fishing these waters bring.

The following are some of my newest available properties that you need to check out:

Casa Piedra Alta Vista: reduced again and to include a pool, it would cost well over 100K more than the asking price to duplicate this home on the lot next door. Elegance is awaiting you and a view you would definitely enjoy!

Gotta go, I am making “Soup of the Pesca” this evening: a red sauced soup with little neck clams, octopus, scallops, crabs, shrimp and some fresh Mahi Mahi. Sounds good? Stop in for a bowl at our Todos Santos office!

Coldwell Banker Riveras

Fell in love with Baja? We can help you stay! With our dedicated team and services to cover your every real estate need, we can help you bring your heart home.

Coldwell Banker Riveras, #1 Coldwell Banker office in Mexico for the past 12 years running, encompasses over 40 years of local real estate experience in the top 10 markets through the state of Baja California Sur, with offices around the state: Cabo San Lucas, San Jose del Cabo, La Ribera, Los Barriles, La Paz and Todos Santos.